On Nov. 18, Peter Schiff appeared on RT Boom Bust to talk stock markets, trade war and Federal Reserve policy. He said that right now the Fed is doing a good job stimulating the bubbles, but ultimately, it’s going to end very poorly.
On the trade war front, there seems to be a lot of conflicting information and continual yo-yoing between pessimism and optimism. The Chinese seem less confident while White House economic advisor Larry Kudlow says a deal is close.
Peter said he thinks China is posturing for negotiations.
Jerome Powell lectured Congress about the national debt last week, calling it unsustainable. The Federal Reserve chairman is concerned. He admitted that with interest rates already close to zero, the central bank has very little room to cut rates in the event of an economic downturn. Peter Schiff appeared on the Claman Countdown, along with Milken Institute economist Bill Lee to talk about Powell’s comments.
Peter said that while Powell is lecturing Congress, it’s really the Fed’s fault.
Peter Schiff appeared on RT Boom Bust and said the optimism is misplaced. The US is losing the trade war to China.
Last Tuesday, the S&P 500 made a record high as markets anticipated another Fed rate cut. Some analysts say the big risk is that we’re seeing a boost in asset prices but no real uptick in the actual economy. Peter Schiff appeared on RT Boom Bust to talk about it. He said investors buying onto all of this Wall Street hype are in for a painful awakening.
Foreign central banks have been stocking up on gold for months. According to the World Gold Council, a dozen central banks have increased their gold reserves by at least 1 ton through the first eight months of 2019. This continues a trend we saw through 2018. In total, the world’s central banks accumulated 651.5 tons of gold last year. The World Gold Council noted that 2018 marked the highest level of annual net central bank gold purchases since the suspension of dollar convertibility into gold in 1971, and the second-highest annual total on record.
Peter Schiff has talked about central bank gold-buying. He has noted that the US went off the gold standard in 1971, but he thinks the world is going to go back on it.
Gold is the “shining embodiment of wealth.” It is not only used to add “extra bling” to our lives; it is also an important component in expensive high-tech electronics and medical devices. Even more fundamentally, gold is money.
But why is gold so expensive — even more valuable than other rarer metals? A video put together by Business Insider offers some perspective. Simply put, it’s a matter of supply and demand. People want gold and there isn’t very much of it.
“In case the people in this room didn’t know, the financial crisis of 2008, which I had been forecasting for some time, and the Great Recession that ensued, was caused predominantly by the Federal Reserve.”
This was the opening line of Peter Schiff’s talk at the Las Vegas MoneyShow.
The Fed managed to “rescue” the economy after the financial crisis, but in the process, it created an even bigger bubble than the one that popped in ’08. This bubble is about to burst and the Fed will try to repeat the process. The difference is this time it won’t work, as Peter explains.
You have probably heard about the JP Morgan traders indicted in a gold and silver market manipulation scheme. The allegations involve “spoofing.” Traders put in buy and sell orders with the intention of canceling them before execution. By creating false impressions of demand, they could potentially move prices and cash in on their own trades. Meanwhile, JP Morgan has accumulated the most significant physical silver position of all-time.
Peter Schiff recently appeared on RT to explain exactly what’s going on.
Peter Schiff has been saying that the price of gold and silver are going to take off.
Peter isn’t just taking a wild guess or gazing into a mystical crystal ball. He’s basing this prediction on the unavoidable economic consequences stemming from decades of Federal Reserve mechanizations. In s nutshell, the central bank has checked us into a monetary roach motel. Once it entered the current policy there was no way it would ever be able to leave.
In this SchiffGold Videocast, Peter explains exactly what the Fed has done, what it’s doing now, and why no matter what it does next, gold and silver are going much higher!
Peter Schiff appeared on RT Boom Bust on Tuesday (Sept. 17) to talk about interest rates, gold and the dollar. Peter said the fiat currency system may not survive the next recession.
The conversation started focusing on the repo operations conducted by the Federal Reserve early in the week, Peter said the financial media and Wall Street are being much too complacent about what’s going on.